India’s leading casino and gaming operator Delta Corp has revealed plans to build a new Rs150 crore (US$20.5 million) offshore casino it says will replace one of its current vessels on Goa’s Mandovi River by mid-2022.
The new ship, replacing the Deltin Caravela, will be built by Waterways Shipyard, of which Delta Corp recently acquired a 45% stake. The shipyard previously built another of the company’s three offshore cruise ships, Casino Royale.
According to a report in The Times of India, Delta Corp’s Chief Financial Officer Hardik Dhebar confirmed its latest investment in the new, larger vessel which it hopes can generate more revenue than its other two ships, Deltin Jacq and Deltin Royale, combined.
“We have three licences and one of our vessels is a very small boat called the Deltin Caravela, which is what we are looking to upgrade to a larger vessel,” he said.
“We started building that vessel some time ago and we believe that in the next 12 to 18 months we should have a brand new vessel indigenously built in the river.”
Dhebar also detailed the company’s thoughts on a recently announced plan to develop an integrated resort in Pernem, Goa, which would include an electronic casino, themed hotels, a water park and theaters. Live table games are currently permitted only on Goa’s six offshore casinos.
“We are trying to make the best of both worlds,” Dhebar said.
“We are going to invest in the hope that in the four to five years that it will take us to build the integrated electronic casino, the government will change the policy and the law and permit live gaming on-shore.”
Dehbar said Delta Corp has high hopes for its planned IR.
“We believe it is going to make us good money,” he said. “We are looking at Rs1,000 crore (US$135 million) to Rs1,500 crore (US$204 million) investment over the next five years, but Delta may not put in all the money. There will be strategic partners and other firms that Delta will bring in as partners in the retail, waterpark [and] entertainment sector[s]. They will bring in the capital while Delta will focus on the gaming and 300 to 400 room hotel.”